Russian Energy and West One Year after Ukraine Conflict Began: Are There Connections Still?

Global politics are the framework for energy relations. However, energy projects are developed and deals are made immediately at the corporate level.

It is companies that form the threads that tie nations in the energy business. It is therefore important to analyse relations between Russian and Western corporations.

As long as companies from the “collective West” stay in Russia, there are still options for continuing co-operation. The latter still brings Russia fiscal revenue and markets.

The report gives answers to the following questions:

How Western corporations reacted to sanctions decisions

• Who was among the first to go, who delayed going but failed to cope with the pressure, and who so far stays in Russia

Specific corporations’ lines

• The report describes the moves of all leading energy companies from “politically Western” countries and their strategies in the current tense situation

Who used the most flexible adaptation line

• Oilfield services, consultancies, and auditors as the main tricksters

Reasons for and implications of “green” companies’ flight

• The green agenda, it would seem, should have remained unaffected by sanctions because the EU was extremely interested in Russia following the green course
• However, green companies fled Russia much sooner
• What does that mean for green projects in Russia?

Examples of confrontation between foreign contractors and Russian companies

Terms of withdrawal from Russian business

• Who buys Western property
• Why Chinese or Indian companies do not substitute for Western ones

Medium-term outlook

Contents of the report: